ASML Holding NV (NASDAQ:ASML) exceeded first-quarter expectations and raised its 2026 guidance, despite disappointing Q2 forecasts. RBC Capital Markets analyst Srini Pajjuri sees strong growth potential in 2027, driven by better-than-expected EUV demand.
The ASML Holding Analyst: Pajjuri maintained an Outperform rating, while raising the price target from $1,625 to $1,700.
The ASML Holding Thesis: The company reported revenue and earnings of €8.8 billion and €7.15 per share. It topped consensus estimates of €8.6 billion and €6.57 per share, respectively, Pajjuri said in the note.
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EUV revenue grew 14% sequentially to €4.1 billion, with ASML shipping 16 tools. Memory remained “particularly strong” in the quarter, Pajjuri said. Although Advanced Logic declined, this was likely due to timing issues and China. He …